Combine the first 9 ingredients in a bowl; divide into thirds.
Heat oil in a large pot (Dutch oven works well) over medium heat.
Season meat with salt and pepper all over.
Cook meat in hot oil until browned all over. Drain. Add meat back to the pot.
Meanwhile, in a separate skillet, brown the ground beef until no longer pink. Season with salt and pepper. Drain excess grease. Add to the pot with the cooked meat.
Add tomato sauce, chicken stock, and beef stock.
Bring to a simmer and then add ⅓ of the chili powder mixture, after 30 minutes, add the next ⅓ of the chili powder mixture, and then after another 30 minutes, add the last ⅓ of the chili powder mixture and let simmer for another 30 minutes. (This will be approx. 1 ½ hours total).
Add in the brown sugar, ground cumin, and tomato paste and simmer for another 20 to 30 minutes, until desired thickness. If the chili still is thinner than you prefer, add more tomato paste.
Serve at once with garnishes on the side.
Notes
See the video near the top of the blog post for visual guidance. If you liked the video, please subscribe to our YouTube channel. We love using nice cuts of boneless ribeye steaks. But you can also use sirloin, strip steak, or beef tenderloin. A combination of these works well, too. 1 or 2 lbs of cooked ground sirloin will stretch the chili, too, if desired (we add this in often). We sometimes don't include the cooked ground beef, and sometimes we do. It definitely stretches the chili and provides even more beef flavor. In the video, we didn't include the cooked ground beef, but we usually do. Dividing the chili powder mixture into thirds before adding it to the chili makes this process easy. Simply combine all the seasoning ingredients (except the brown sugar and cumin) in a larger bowl. And then just eyeball dividing into third into 3 smaller bowls. The consistency of the chili will seem thin at first. But, over the course of the couple hours of cooking the chili will thicken and reduce down.This can also be made in a slow cooker. Brown the meat first, then add all remaining ingredients (except the brown sugar, cumin, and hot sauce) and cook on low for 8 to 10 hours (low on 4 to 5). Stir in the brown sugar, cumin, and hot sauce in the final 30 minutes.Common garnishes are chopped onion, shredded cheddar, fresh or pickled sliced jalapenos, dill and/or sweet pickles, sour creams, crackers, cornbread, and cooked rice.
The chili will keep in the fridge (and even deepen in flavors) for up to 4 days. The chili freezes wonderfully for up to 3 months.