In a large heavy pot heat the oil over moderate heat and cook the onions and garlic until softened. Add the ground beef, stirring, until the beef is no longer pink. Drain off any excess fat and discard. Add the chili powder, paprika, cumin, allspice, cinnamon, cloves, coriander, salt and pepper, to taste, stirring to combine and cook for 1 minute. Add the bay leaf, red wine vinegar, molasses, tomato sauce and water and bring to a boil. Reduce heat and simmer chili, covered for 1 1/2 hours, adding additional water, if necessary, to achieve a thick and soupy consistency. Discard bay leaf and adjust seasoning with salt and pepper.
Serve the chili over cooked spaghetti with the traditional accompaniments.