We will need much more information in order to answer, fraulain.
What model of camcorder do you have? Which project settings did you select when you set up your Premiere Elements project?
What operating system are you using?
Do you have at least 20-30 gigabytes of free, defragmented space on your C or main hard drive? This is necessary, even if you are using a second hard drive for your actual editing?
Is your Work Area Bar over your entire project, or have you set it over one segment of your project?
Can you post a screen capture of your project's timeline?
Insanity is hereditary, you get it from your children