I was experiencing the same problem.
The thread_safe gem version 0.3.0 has been yanked now from Ruby Gems: http://rubygems.org/gems/thread_safe/versions
So you might want to specify a different version in your Gemfile, or you can point the Gemfile directly to GitHub.
I solved the problem with this line in my Gemfile:
gem 'thread_safe', '0.2.0'