Cannot create a new project with iMovie. Operation could not be completed. No solution to the problem is available.

Question

Every time I go to create a new project in the latest version of iMovie for mac OS X yosemite, I get the following information. "The operation could not be completed. No further information is available about the problem.
I have tried restarting the computer, that didn't work. I also tried also, to reinstall the app. That didn't work. I even tried updating all the software, and that still didn't work. I am very frustrated and feel the mac was not a good gift, if a major essential app will refuse to work. Nothing I do, seems to work.   

Answer 1

Launch the Console application in any of the following ways:
☞ Enter the first few letters of its name into a Spotlight search. Select it in the results (it should be at the top.)
☞ In the Finder, select Go ▹ Utilities from the menu bar, or press the key combination shift-command-U. The application is in the folder that opens.
☞ Open LaunchPad and start typing the name.
The title of the Console window should be All Messages. If it isn't, select
          SYSTEM LOG QUERIES ▹ All Messages
from the log list on the left. If you don't see that list, select
          View ▹ Show Log List
from the menu bar at the top of the screen.
Click the Clear Display icon in the toolbar. Then take the action that isn't working the way you expect. Select any lines that appear in the Console window. Copy them to the Clipboard by pressing the key combination command-C. Paste into a reply to this message by pressing command-V.
The log contains a vast amount of information, almost all of which is irrelevant to solving any particular problem. When posting a log extract, be selective. A few dozen lines are almost always more than enough.
Please don't indiscriminately dump thousands of lines from the log into this discussion.
Please don't post screenshots of log messages—post the text.
Some private information, such as your name or email address, may appear in the log. Anonymize before posting.
When you post the log extract, you might see an error message on the web page: "You have included content in your post that is not permitted," or "The message contains invalid characters." That's a bug in the forum software. Please post the text on Pastebin, then post a link here to the page you created.