Boil corn and potatoes until potatoes are fork tender, about 10 minutes.
Once corn has cooled enough to handle, cut kernels off cob. Then also scrape the cobs with the back of the knife to further remove the golden goodness. Peel and dice potatoes; reserve.
In Dutch oven, brown bacon and remove, leaving 1 Tbl. bacon drippings. Add butter to pan and saute onion until tender.
Then add garlic, thyme, seasonings, diced potatoes, and corn.
Dust with flour, then cook over medium heat for another minute. Add milk, cream and crumbled browned bacon. Bring to gentle boil; reduce heat and simmer for 5 minutes.