Youths' failure to heed advice
The persona tells of how the youth did not want to heed the advice of their elders. They did not want to listen to reason and this led to the ruin. It is a situational irony that the youth do not listen to advice from their elders who are more experienced in life.
The flattery of servants to their masters
The persona says that servants often flattered their lords. This made the lords have a big ego. The lords would think that all was going well when it was not. It is ironical that the servants would flatter their lords instead of telling them the truth.
The firing of truthful servants
It is ironical that masters fired the savants that were truthful. The masters liked being flattered and would get annoyed when their servants informed them that all was not going well.
The betrayal of friends
The persona laments of how he was deserted by friends when he stopped his extravagant spending.This is situational irony for friends are expected to be there for a person in tough and good times.
Spending borrowed money extravagantly
The persona says,
'Then it would seem that you have borrowed
Much of that which you have already spent
In indulgence and extravagance and complete excess.
Remind yourself that that which is lent
Must rightfully be sent home again;
You have no perpetual ownership of that.
Pay your debts in case that you are punished,
And before you are compelled to do so.’
It is a situational irony that a person would borrow money and spend it extravagantly instead of investing to pay it back.