It's a badly written sentence.
The syntactic parallelism between the two gerund clauses lead the reader to parse this as you have done:
This constant obsession about
But in fact "Constant obsession about observing our behemothic interest" makes no sense. The public is not obsessed with observing its own interest; it is, rather, the writer who is observing the public interest. This implies that the correct parse is:
This constant obsession ...
However: as soon as you sort this out, you come up (as TRomano points out) against the sentence's main verb makes, which requires a singular subject—and that thrusts you back on your original parse.
The only way I can see to rescue this is to assume that the conjoined piece about observing is intended as a parenthetical participle clause:
This constant obsession
(and observing ...)
makes me think ...
But that makes the observing piece a dangling modifier, since its subject (presumably I) is not the subject of the clause to which it is attached.
This is hasty writing which has not been corrected.