Pierce the potatoes all over with a fork and microwave on high for 12-15 minutes, turning once halfway through, until tender when pierced with a knife. Let cool completely — this makes peeling much easier.
While potatoes cool, melt butter in a large, heavy-bottomed pot over medium heat. Add diced onion and cook until softened and lightly golden, about 8-10 minutes. The slow caramelization adds depth.
Sprinkle flour over the onions and cook, stirring constantly, for 2-3 minutes to create a blonde roux. This eliminates the raw flour taste and helps thicken the soup.
Gradually whisk in chicken broth and water, ensuring no lumps form. Add cornstarch, instant mashed potatoes, salt, pepper, basil, and thyme. Bring to a gentle boil, then reduce heat and simmer 5 minutes. (The instant potatoes act as both thickener and flavor enhancer — embrace this shortcut)
Peel the cooled potatoes (the skins should slip off easily) and cut into bite-sized chunks. Add them to the soup along with the heavy cream.
Return to a gentle boil, then reduce heat and simmer 15-20 minutes until the soup reaches your desired thickness. Taste and adjust seasoning — it should be rich and well-balanced.
Ladle into bowls and top generously with grated cheddar, crumbled bacon, and sliced green onions. The contrast of creamy soup with crispy, salty toppings is everything.
For my fermentation friends: try topping with a dollop of lacto-fermented sour cream instead of regular — the tangy complexity pairs beautifully with the rich soup. Store leftovers up to 4 days; the flavors actually deepen.
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