Popeye tells Swee'Pea a fairy tale about a hamburger fisherman (Wimpy), who is starving because he's unable to catch any cows. His luck changes when he finally loops a cow around the neck with his fishing pole. But this cow is really an enchanted princess (Olive Oyl), who grants him three wishes for letting her go. The Sea Hag, eavesdropping on the princess she herself had enchanted, snatches the poor hamburger fisherman and flies him to her skull-shaped cave, where she demands that he wish for gold. Instead, he keeps wishing for hamburgers. Only when Popeye inserts himself into this wacky tale will all turn out happily ever after.
Actually, I would have found the ending happier if the Sea Hag had triumphed over Wimpy, a man stupid enough to fish for cows. And presumably he's attempting to *steal* cows, not just catch ones running in the wild.
Why doesn't he wish the Sea Hag away from his person? Why doesn't he wish for gold for himself, so he can buy hamburgers? Having unlimited money to buy hamburgers is better than a bottomless pile of food that will rot in a day or two. The story's only consolation is that Wimpy's happy ending (which I won't reveal) is probably not as happy as Popeye thinks it is.