I've selected a material view and here's what happened with the cube. I'm sure it's not a camera max clip distance problem, because outline and grid is visible. It is appears only when GLSL mode is active.
The only way I can get anything like what you're seeing is to reduce the viewport's "clipping" END setting (press N and open the VIEW tab) to something below the START setting then approach the cube until this happens...
Another point might be to ask where you downloaded Blender from? I make a point of using the original/authoring site, never a third party site for any s/ware.
This is obvious I know but failing all else, you might also want to explore the possibility of it being a problem between Blender, the graphics card or it's drivers, or perhaps your operating system and/or it's version.
I see your latest comment and note that you're using Win XP? That's pretty old isn't it? Blender has come a long way since the older versions of Windows. Perhaps XP can't handle what Blender is doing re - shading etc.
When all else fails, look for the things it cannot possibly be!
EDIT: I've since found out that XP is not supported by Blender versions beyond 2.76B