In a large pot over medium heat, cook the bacon until crisp. Remove the bacon from the pot and set aside.
Add the onion and garlic to the pot and cook until softened.
Add the beef broth, water, diced tomatoes with juice, tomato sauce, Worcestershire sauce, brown sugar, chili powder, garlic powder and onion powder. Stir to combine.
Bring to a boil then reduce heat to low and simmer for 30 minutes.
Stir in the cooked bacon and season with salt and pepper to taste.