Have a new computer with iMovie 11.  It won't let me create a project.  It says to check my disk and permission to write projhects.  What's with that?

I have a new IMAC with iMovie 11.  I cannot create a project because I get a message saying to check my disk space and permissions to see if I can write projects.  How can I start a project??

any luck finding answer? i have the same problem.

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