A moderator will come along soon to move your question to the correct forum which is Premiere ELEMENTS. This is the Premiere PRO forum.
[Moved to the Elements forum.]
Display driver & Baddriver http://forums.adobe.com/thread/1370916?tstart=0 may help
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
Exactly what are you editing?
Codec & Format information, read both links in reply #1 http://forums.adobe.com/thread/1270588
Report back with the codec details of your file, use the programs below... A screen shot works well to SHOW people what you are doing
http://forums.adobe.com/thread/592070?tstart=30 for screen shot instructions
If your video card drive version is up to date according to the web site of the manufacturer of the video card, then the next step to be considered is deletion of the BadDrivers.txt.
The directions to that file for Premiere Elements 12 is not going to be of help since you are using Premiere Elements 9.0/9.0.1.
If you have Windows 7, 8, or 8.1 64 bit, the path to the BadDrivers.txt file is
Local Disc C
and in the 9.0 Folder is the BadDrivers.txt file that you delete. Be sure to be working with Folder Option Show Hidden Files, Folders, and Drives active so that you see the complete path.
One of the important questions is "Does your computer have two video cards instead of one?"
Also, are you working from the 9.0.1 Update?
Would you characterize your problem "it worked before but not now" or "it never worked before".
Please review the above, answer the questions, and then we can plan further troubleshooting strategy if necessary.