In a small bowl combine the following: salt, pepper, garlic powder, onion powder, and thyme. Mix well and set aside. Heat oil in a deep-fryer to 375 degrees F. Add fries into the hot oil in batches and deep-fry for until light brown. Drain on a plate lined with paper towels, repeat until all of the fries are cooked. Sprinkle the fries with some of the seasoning and preheat the oven to 400 degrees F. Lay the fries out onto baking sheet. Mix the cheddar and Monterey jack cheese together Sprinkle the cheese over the fries and then sprinkle the crumbled bacon over the cheese. Bake for 4-5 minutes in the oven until the cheese has melted, Serve with ranch dressing