Some of the below is for Premiere Pro, but the idea is the same for Premiere Elements
Display driver & Baddriver https://forums.adobe.com/thread/1701412
Dual video problems - Do you have dual graphics adapters?
Go to the Windows Control Panel and select Hardware and Sound and then select Device Manager... In Device manager you click the + sign to the left of Display Adapters... and see if 2 are listed
IF YES, read below
-link to why http://forums.adobe.com/message/4685328
-HP Fingerprint/Password conflict http://forums.adobe.com/thread/911575
The answers are in the details specific to your situation. Lots of possibilities, lots of questions that need answers to plot a troubleshooting path.
What is the computer operating system involved?
Is this a "it worked before on this computer but not now" or "it never worked before" issue?
Does the problem exist with and without the antivirus and firewall(s) disabled?
Do you have the latest version of QuickTime installed on your computer? And, are you running the programs as administrator?
What is your video card/graphics card situation
a. driver version up to date according to web site of manufacturer of the card or manufacturer of the computer
b. does your computer use more than one video card/graphics card?
If this is a "it worked before on this computer but not now" matter, when was the last time it worked? And, do you recall any computer events about that time that might have triggered the problems that came?
Please review and consider, and then we can decide what next based on the details of your reply.