Final Cut Pro X has gotten incredibly slower

Recently, my FCPX application has been acting really slowly. Whenever I try to start a new project or a event, it would just put me up with the bouncing beach ball of death, and would take a very long time before it even responds.

Also, even after all this madness, it's not over. FCPX would never allow me to actually even start editing. It won't even let me drag a clip in the timeline.

I really don't know what's wrong. I tried reinstalling, and even just restarting the computer, but nothing has resolved the problem yet. FCPX had always worked with me in the past, but suddenly, it's like this.

Anybody knows like a solution or at least anything that would help out? I really need to start a new project, and fast, but this is really getting me into now... 😠