We have two choices. We can praise God for who He is and what He has done or boast in people and their accomplishments. Give thanks to Him for His name is near. Don't speak with insolent pride by glorifying yourself (Ps. 75:1-5).
Why should you boast in God and not people?
God is judge and brings exaltation to those He chooses. He controls who gets promoted or demoted in organizations, businesses, government, churches, etc. (Ps. 75:6-8).
As a result, sing praise to God since He lifts up the righteous (Ps. 75:9-10).
What are God's credentials to promote whoever He desires? Ps. 76 answers this question.
God's Name is Great
God dwells in Zion where He breaks the flaming arrows of the evil one. His name is great and powerful to defeat Satan's schemes on the earth (Ps. 76:1-3).
God's Name is Majestic
He defeats prideful people and their wicked schemes. Both their "rider and horse were cast into a deep sleep." No one can stand in God's presence when He is angry. We have seen that recently with the killing of Osama Bin Laden even though national and international laws were broken to kill an unrighteous man (Ps. 76:4-7).
God's Name is Awesome
God's judgment saves the humble. He can make the wrath of man praise Him so that kings on earth fear Him (Ps. 76:8-12).
Praise God for His greatness in defeating satan
Praise God for His majesty in defeating wickedness
Praise God for His awesomeness in making wicked kings fear Him