The lower, outer tie rod is loose, and the right side CV boot is leaking grease.
If one tie rod is loose, then more than one may be loose in the front end. The CV joint boot is most likely torn, causing the grease to leak. The loss of grease will cause the joint to go bad, since dirt can get into the joint. I recommend that you have a mechanic, such as one from YourMechanic, replace the leaking axle, and check all the front end joints.
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