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
attaining ...
and
observing ...
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 ...
and
observing ...
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.