Can not start computer up

I have Windows ME. I was able to use the computer a few days ago. This morning I am not able to get the computer to log in. It will start up and go directly to SafeMode. I try to go into Safe Mode but a message appears "Windows protection Error. You need to restart your compputer. System halted." I turn the computer back off and the same thing happens. It acts like its going to log on but back to the screen to pick Normal, Safe Mode, Text Log, etc. No matter what choice I pick it automatically goes back to the Safe Mode option and every time I pick it the above error message comes up. Any help with this or is time for a new system?
Thanks in advance