Caramelized onion and bacon spread

This spread combines the magical flavors of sweet caramelized onions and smoky, salty bacon. It's a total hit on a crusty piece of crostini, but I have been known to add it to my breakfast egg and English muffin sandwiches as well.

Ingredients
12 oz bacon
1.5 lb yellow onion
1.5 tbsp brown sugar
2 tbsp red wine vinegar
black pepper
0.5 tsp+ salt
cayenne
2 tsp thyme
1 tsp balsamic vinegar
1 tsp olive oil
0.25 cup water

Preparation
Slice the bacon into 0.5-inch strips. Add to a pot and turn heat on medium. Slowly begin to cook , stirring occasionally.

Cook until all fat is rendered and bacon grease is foamy. Drain fat into a cup and place bacon pieces onto a paper towel.

Add 2 tsp of fat back to the pot, don't wash the pot! The fond is tasty. Peel and dice the onions and add to the bacon fat. Stir in 0.5 tsp of salt. Cook until onions are translucent and squishy,

Add the brown sugar, vinegar, black pepper, cayenne and half of the thyme to the pot. Dice the crispy bacon into tiny pieces and add that as well, with the water. Stir well and cook stirring on medium heat until the texture is jam-like. The onions should be fairly well broken down.

Add the balsamic and the olive oil, with the remaining thyme leaves. Ladle into containers and serve with crusty bread.