I have an exhaust problem with my 1984  GL wagon.  http://smg.photobucket.com/user/weimadog/media/IMG_1068_zpsf20d217a.mp4.html

The video explains the problem. 

 

I found it by connecting a shop vac to the exhaust pipe, and listening for the hiss.  That's a lot more pleasant than getting under a car and dealing with a hot exhaust.

 

One bold is rusted in place, the other one is still springy.  

 

What's the solution for this one?

If the pipe is not rusted out between the two flanges you can get a replacement gasket at Napa. It is a cone shaped part that
slips over one part of the pipe They should be able to help with the springs and bolts also. It did mine last fall but the springs and bolts/nuts came
apart OK on mine. Check carefully around the pipe where the gasket mounts..

 hi,

 that connection has a half-donut gasket that fits on the engine side of the pipe, the cat- side pipe is the cup side of the connection,  there should be space between those 2 flanges which is caused by the gasket ,  the springs and bolts  is a system to hold it together but allowes it to flex, the bolts have a shoulder so you can't over run the threads too far and over squeeze the connection.   my best way to explain the gasket is imagine a donut that is cut in half sideways,  it fits a short stub end of the exhaust pipe which many times is completely rusted away and  presents a problem if that is the case , judging from your pic i am sure the gasket is gone but if the pipe tip is still there put a gasket in and you should be ok,, be sure to use those correct bolts and they only fit through from one side, the other flange has smaller holes just big enough for the threaded bolt ends to fit through, the springs keep the connection tight but don't lock it  , if the connection is locked up the pipe will crack at the heads flange eventually.  last if you have nothing left of the engine side pipe to hold the gasket you may be able to get a muffler shop to put in another type flex connection the same size but there needs to be something that allows for the motor movement or you'll have more issues pretty soon.