# Spectra and localizations of the category of topological spaces

Can we construct the category of spectra (or maybe just its homotopy category) from the category of pointed topological spaces using some kind of localization combined with other categorical constructions?

[The first part of the original question was wrong for a trivial reason pointed out by Reid Barton.]

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I don't know the answer, but I have a related question. What if we let $f$ be the wedge of the maps $X\to \Omega \Sigma X$ (representing suspension) for all countable CW complexes X, and then apply Bousfield/Farjoun localization $L_f$? It seems to me that, for the purposes of mapping in finite complexes, we have inverted the suspension operation. – Jeff Strom Mar 1 '10 at 0:46