1. In a large pot, cook ground beef over medium heat until browned. Drain excess fat and set beef aside.
2. In the same pot, melt butter and sauté onions until softened. Stir in garlic powder and smoked paprika.
3. Add diced potatoes and broth to the pot. Simmer for 15 minutes, or until the potatoes are tender.
4. In a small bowl, whisk flour with 1/2 cup milk until smooth. Stir this mixture into the pot along with the remaining milk and heavy cream. Simmer for 5 minutes until thickened.
5. Add the cooked ground beef, cheddar cheese, and half the crumbled bacon. Stir until the cheese is melted.
6. Season with salt and pepper to taste. Serve hot, garnished with remaining bacon and fresh parsley.