Turing-equivalent is usually used to mean that one system is at least as powerful as some sort of TM or UTM. Your computer is some sort of TM or UTM, and it exists inside the universe, so the universe (or its laws, rather) is quite obviously Turing-equivalent. That's the trivial observation.
Sometimes Turing-equivalent is said to be true only if a system can both implement some sort of TM or UTM within itself, and if it can also be implemented within some sort of TM or UTM. This is a little more objectionable and not trivial, but so far I haven't seen anyone demolish the various 'digital physics' proposals or the Church-Turing surmise by pointing out some natural process which is incomputable (except perhaps the general area of consciousness, but if you're on Less Wrong you probably accept the Strong AI thesis already).
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Sounds consistent with Jeff Hawkins's memory prediction framework