I could resolve the problem after reading this blog post and all the comments:
http://flux88.com/blog/installing-postgresql-for-rails-on-mac-os-x/ -- Posted via http://www.ruby-forum.com/. -- You received this message because you are subscribed to the Google Groups "Ruby on Rails: Talk" group. To post to this group, send email to rubyonrails-talk@googlegroups.com. To unsubscribe from this group, send email to rubyonrails-talk+unsubscr...@googlegroups.com. For more options, visit this group at http://groups.google.com/group/rubyonrails-talk?hl=en.