New England Clam Chowder

Name: 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; 26 ounces minced clams (drained and juice reserved); 16 ounces 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)