Heat a large dutch oven or pot over medium high heat. Add the bacon and brown, rending the fat out. Add the butter to the pan, allowing it to melt.
Add the chopped onion to the pan, and cook, stirring occasionally, until the onions are translucent, about 5 minutes. Sprinkle flour over the onions and stir until everything is coated with the flour. Let the flour cook for a minute or two.
Slowly add the white wine to the pot, stirring after each addition. Add potatoes to the pot. Add tje chopped clams, stir to combine.
Add the clam juice (if using) as well as 1 cup water. The liquid should cover the potatoes. If not, add a little more, either water or clam cooking juice.
Add the bay leaf, thyme, black pepper, and Old Bay. Heat to a boil and reduce to a simmer. Cover and cook for 10 minutes – 15 minutes.
Add the corn and cook for 15 minutes more, or until the potatoes are cooked through and tender.
When the potatoes are tender, slowly stir in the cream. Adjust seasonings. Stir in the fresh parsley.