New England Clam Chowder

INGREDIENTS

• 4 slices center-cut, thick-cut bacon (about 4 ounces), cut into ¼-inch pieces
• 1 large Spanish onion, chopped
• 2 tablespoons all-purpose flour
• 4 cans (6½ ounces each) minced clams, drained and juice reserved
• 2 bottles (8 ounces each) clam juice
• 1 cup water
• 1½ pounds red potatoes (about 4 medium), scrubbed and cut into ½-inch dice
• 1 bay leaf
• ¼ teaspoon dried thyme
• 1 cup heavy cream
• 2 tablespoons minced fresh parsley leaves
• Salt and fresh ground pepper, to taste