Husk the corn and cut the kernels from the cob. Place in a bowl. Scrape the cobs with the back of your knife to "milk" them into the bowl.
In a large pot over low-to-medium heat, cook the diced bacon until crisp and golden. Pour off all but a tablespoon of bacon fat; leave the bacon in the pot.
Add the butter, onion, red pepper, thyme, and turmeric. Saute for about ten minutes, until the onion and peppers are glossy and well-cooked but not brown. Then add the corn kernels with their "milk," potatoes, and stock. Turn up the heat and cover, boiling for about 10 minutes. The potatoes should be softening; use a wooden spoon to crush some against the side of the pot. Season with salt and pepper.
Slowly pour the cornstarch slurry into the pot, stirring well. When the chowder comes to a boil and begins to thicken, turn off the heat and add the cream. If you have time, let the chowder sit at room temperature for an hour before serving. (If you're refrigerating it, wait until it cools completely.) When reheating, be cautious; don't let the chowder boil.