I'm actually just waiting for pain to be added to the morale system. 0_0
You'd think writhing in pain for days would be demoralizing, but nope! Morale is actually amazingly easy to keep up, everything considered... and it needs to be really rebalanced.
Example:
Smoking pot can give 60-70 morale, easy, and it lasts a while. Listening to music pops you right up to 50. Reading a book can give, at most, 5, and it takes longer to get and goes away almost immediately. Even playboys! Rain can drop your morale almost as much as pot (not terrible, really, since it got nerfed a bit I think), but being in excruciating pain or sick enough to vomit all over or not having eaten in a week leaves it untouched. It's definitely... strange, sometimes.
At the very least we need a few more perks, morale focused ones:
Booklover - You gain triple morale from reading books. (with the addendum that each time you read the same book within a given time period, you should have a chance of getting reduced morale bonus)
Sadist - You get a morale bonus from killing things.
Perv - You get triple bonus from reading playboys, and a passive morale bonus simply from having playboys in your inventory or nearby.
Sunlover - You get a small morale bonus simply from being outside when the sun is shining.
Stargazer - Waiting outside on clear nights gives a morale bonus.
Workaholic - You feel best when you're being productive - Building things and using craft skills gives you a boost to morale.
And, of course, some negatives:
Timid - You take a hit to morale when killing zombies, a larger hit when killing animals, and a much larger hit when killing humans. The morale hit from killing a given type of enemy is reduced over time as you accumulate more kills of that type as you grow numb to the effects.
Straight-edge - Using drugs beyond basic painkillers gives you a hit to your morale.