Identifying Irony in Satire

Read the following excerpt from a satirical novel:

"It was a sunny day in the town of Misfortune, where the residents took pride in their ever-growing collection of broken promises and shattered dreams. Every Saturday morning, they would gather at the town square, smiling and waving at each other, fully aware of the disasters waiting to occur throughout the week."

In the context of this passage, how does the author employ irony?