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I'm not sure about the turbo engine but it is easy to check if your's has a harmonic balancer. Reach down and feel the front of the lowermost pulley on the angine (engine NOT running please). If you find the pulley has 6 fasteners, 2 stud/nuts and 4 bolts heads, the engine has the split sheave pulley and no harmonic balancer. The harmonic balancer is held to the crankshaft by a single large nut in the center of the pulley.
The harmonic balancer pulley has an outer rim, where the belts ride, joined to the inner hub by a layer of rubber which is bonded to both. When the bonding fails, the outer rim can slip with respect to the inner hub making a noise which has been described a a squeal or shreek. If you do have the balancer, you can check to see if the rubber bonding is failing. With white chalk, draw a line from the center of the face of the pulley to the rim. Start the engine briefly, then turn it off. If the two parts of the balancer are slipping, the chalk mark on the hub will be moved from the mark on the rim. If this is the case, you need to fix it right away. It's possible for the whole thing to come apart and do bad things to your radiator, etc..
The most common causes of squeeking in the belts are worn belts and pulleys out of alignment due to worn accessory bushings. My '86 sounds awful and I'm getting ready to replace the belts and bushings. I have had power steering pumps go bad and make a noise too. You can get a mechanics stethoscope for a few bucks at Harbor Freight and use it to listen to the bearings on the power steering pump, the alternator, and the AC compressor. The timing belt tensioner bearing can also go bad which can result in a broken timing belt.
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