Buy:

1 large, cheap steak, chuck or sirloin
1 large white or yellow onion
1 head of garlic
1 itty bitty jar of cheap chili powder (McCormick/Schilling. I think it
holds just over an ounce.)
Some oregano leaves
Some cumin
A bottle of red wine vinegar
Beer (any brand that tastes OK.)
Optional: two cans of beans if you want beans in your chili. (I prefer
light-red kidney beans over pinto beans as the pintos get too mushy, and
I like the heartier, mealy texture of the kidneys.)

Do:
Cut the steak into small, bite-size cubes (around 1/2 to 3/4 inch.)
Peel and coarsely chop the onion.
Peel and chop half of the head of garlic- around 8 cloves
Put a heaping tablespoon of oregano in a cup or bowl then ad half of a
bottle (or can) of beer, and let it soak for an hour or two. This brings
out the oregano's flavor.

Brown the meat in some oil in the bottom of a large, heavy pot or Dutch
oven, then add the onion and garlic. Continue cooking until the onion's
tender and kind of translucent-looking.
Remove from heat and dump in all of the chili powder. Stir well.
Return to heat and add the beer/oregano mixture, a tablespoon of cumin
and a cup of red wine vinegar. Add enough water to cover. Simmer for a
couple of hours, adding more water as needed as well as more vinegar to
taste: you should be able to easily smell the vinegar.

Season with salt and pepper to taste then serve. It goes very well indeed
with hot corn bread and butter.