UPDATE: Later I experienced the same on a system with Ubuntu 14.04

I'm trying to install Odoo on my Mac with OSX 10.9. Here's what I did:

1. `brew install postgresql`

2. `postgres -D /usr/local/var/postgres`
3. `createdb odootest`
4. `git clone https://github.com/odoo/odoo.git`, the repo is 500MB big so this takes a while
5. `cd odoo; sudo python setup.py install`, this will also install many dependencies with `easy_install`, ignore all the warnings
6. `python odoo.py -s` to start with sample data generated by odoo

7. I ran into an error with pyPdf so `sudo easy_install pyPdf`

But now:

014-07-02 12:42:09,332 44979 ERROR guaka werkzeug: Error on request:
Traceback (most recent call last):
  File "/Library/Python/2.7/site-packages/Werkzeug-0.9.6-py2.7.egg/werkzeug/serving.py", line 177, in run_wsgi
    execute(self.server.app)
  File "/Library/Python/2.7/site-packages/Werkzeug-0.9.6-py2.7.egg/werkzeug/serving.py", line 165, in execute
    application_iter = app(environ, start_response)
  File "/Users/guaka/playground/odoo/openerp/service/server.py", line 280, in app
    return self.app(e, s)
  File "/Users/guaka/playground/odoo/openerp/service/wsgi_server.py", line 215, in application
    return application_unproxied(environ, start_response)
  File "/Users/guaka/playground/odoo/openerp/service/wsgi_server.py", line 201, in application_unproxied
    result = handler(environ, start_response)
  File "/Users/guaka/playground/odoo/openerp/http.py", line 1151, in __call__
    return self.dispatch(environ, start_response)
  File "/Users/guaka/playground/odoo/openerp/http.py", line 1128, in __call__
    return self.app(environ, start_wrapped)
  File "/Library/Python/2.7/site-packages/Werkzeug-0.9.6-py2.7.egg/werkzeug/wsgi.py", line 588, in __call__
    return self.app(environ, start_response)
  File "/Users/guaka/playground/odoo/openerp/http.py", line 1297, in dispatch
    response = self.get_response(httprequest, result, explicit_session)
  File "/Users/guaka/playground/odoo/openerp/http.py", line 1232, in get_response
    result = request.registry['ir.http']._handle_exception(e)
  File "/Users/guaka/playground/odoo/openerp/addons/base/ir/ir_http.py", line 100, in _handle_exception
    return request._handle_exception(exception)
  File "/Users/guaka/playground/odoo/openerp/http.py", line 544, in _handle_exception
    return super(HttpRequest, self)._handle_exception(exception)
  File "/Users/guaka/playground/odoo/openerp/http.py", line 1229, in get_response
    result.flatten()
  File "/Users/guaka/playground/odoo/openerp/http.py", line 1105, in flatten
    self.response.append(self.render())
  File "/Users/guaka/playground/odoo/openerp/http.py", line 1100, in render
    context=request.context)
  File "/Users/guaka/playground/odoo/openerp/addons/base/ir/ir_ui_view.py", line 1002, in render
    return self.pool[engine].render(cr, uid, id_or_xml_id, qcontext, loader=loader, context=context)
  File "/Users/guaka/playground/odoo/openerp/addons/base/ir/ir_qweb.py", line 246, in render
    return self.render_node(self.get_template(id_or_xml_id, qwebcontext), qwebcontext)
  File "/Users/guaka/playground/odoo/openerp/addons/base/ir/ir_qweb.py", line 186, in get_template
    raise_qweb_exception(QWebTemplateNotFound, message="Loader could not find template %r" % name, template=origin_template)
  File "/Users/guaka/playground/odoo/openerp/addons/base/ir/ir_qweb.py", line 184, in get_template
    xml_doc = qwebcontext.loader(name)
  File "/Users/guaka/playground/odoo/openerp/addons/base/ir/ir_ui_view.py", line 1000, in loader
    return self.read_template(cr, uid, name, context=context)
  File "/Users/guaka/playground/odoo/openerp/tools/cache.py", line 21, in lookup
    r = self.lookup(self2, cr, *args, **argv)
  File "/Users/guaka/playground/odoo/openerp/tools/cache.py", line 86, in lookup
    value = d[key] = self.method(self2, cr, *args, **argv)
  File "/Users/guaka/playground/odoo/openerp/addons/base/ir/ir_ui_view.py", line 845, in read_template
    view_id = self.pool['ir.model.data'].xmlid_to_res_id(cr, uid, xml_id, raise_if_not_found=True)
  File "/Users/guaka/playground/odoo/openerp/addons/base/ir/ir_model.py", line 887, in xmlid_to_res_id
    return self.xmlid_to_res_model_res_id(cr, uid, xmlid, raise_if_not_found)[1]
  File "/Users/guaka/playground/odoo/openerp/addons/base/ir/ir_model.py", line 879, in xmlid_to_res_model_res_id
    return self.xmlid_lookup(cr, uid, xmlid)[1:3]
  File "/Users/guaka/playground/odoo/openerp/tools/cache.py", line 21, in lookup
    r = self.lookup(self2, cr, *args, **argv)
  File "/Users/guaka/playground/odoo/openerp/tools/cache.py", line 49, in lookup
    value = d[key] = self.method(self2, cr, *args)
  File "/Users/guaka/playground/odoo/openerp/addons/base/ir/ir_model.py", line 869, in xmlid_lookup
    raise ValueError('External ID not found in the system: %s' % (xmlid))
QWebTemplateNotFound: External ID not found in the system: web.login