The picture doesn't quite show what is above the rag joint... Put if there is a clamp above it, i.e. the nut sticking strait up, then you can loosen the bolt, slide the clamp up towards the steering column to remove the slop (move the bearing back up into the race). Don't know how long it has been this way, but if unknown, I would be tempted to remove the steering column/steering shaft and grease the bearing...
Another thought is, is what the bearing rides in damaged/missing/worn out?
As stated above, they changed the steering column set ups over the years...