Welcome to the forums.
Please mention the name and version of the product and operating system. Also, please mention the make and model of the graphics card with the driver version.
Adobe Premiere Elements 10
I have moved the discussion to Premiere Elements Forum.
Please provide us more detail including:
What model of camcorder is your video coming from and what format and resolution is it?
When you started your project, which settings did you select? You can see your current Project Settings under the Edit menu.
What operating system are you using? If Windows, have you set up your OS to download Microsoft updates as well as Windows updates?
Have you ensured you have the latest version of Quicktime?
Have you manually gone to the nVidia or ATI site and ensured you have the latest drivers for your graphics card?
>Adobe Premiere Elements 10
IF you use nVidia, read nVidia Driver Rollback PreElements-10 http://forums.adobe.com/thread/1317675
When you ask a question, the information you need to provide Premiere Elements FAQ http://forums.adobe.com/thread/1042180
What is your exact brand/model graphics adapter (ATI or nVidia or ???)
What is your exact graphics adapter driver version?
Have you gone to the vendor web site to check for a newer driver?
-If Windows, do NOT rely on Windows Update to have current driver information
-you need to go direct to the vendor web site and check updates for yourself
ATI Driver Autodetect http://support.amd.com/en-us/download/auto-detect-tool
nVidia Driver Downloads http://www.nvidia.com/Download/index.aspx?lang=en-us