Add the tomatoes, jalapeño, garlic, onion, Mexican oregano, beef bouillon, salt, black pepper, and ground cumin to a large blender with two cups of water or broth. Process until blended, then set aside.
Heat the olive oil in a large skillet set over medium heat. Add the onion and cook until translucent, about 5 minutes. Add the minced garlic and continue to cook for an additional 30 seconds or until fragrant.
Add the ground beef. Crumble into smaller pieces and cook until browned. Drain any excess grease from the pan and return to heat.
Add the tomato sauce, mixing well to combine with the cooked meat. Bring to a simmer, cover, and cook for 10 minutes, reducing the heat, if necessary, to prevent burning.
After the sauce has had time to simmer, add the potatoes, carrots, bay leaf, and peas, mixing well. Place the heat on medium, cover, and cook for approximately 25-30 minutes or until the potatoes and carrots are cooked to your liking.
Serve hot with red rice, tortillas, and fresh cilantro if desired.