By TheStreet What Is Deflation? Why Is It Bad?Who doesn’t love a bargain? Shoppers may rejoice at the idea of a price cut, but when price decreases hit an entire economy, deflation is the culprit. Economists fear this rare phenomenon, which happens when both the costs of goods and services decrease while the monetary supply contracts. If that sounds like a double negative, that’s because it is. When there’s deflation, the economy becomes mired inrecessionary stagnation—and it takes a whole lot to get out of this precarious situation.Luckily, central banks like the Federal Reserve have a few to…